To measure the effectiveness of a social media strategy it is necessary to analyse and keep a track of the metrics. Social media metrics are all the data you need to measure your social media performance. The idea is to consistently monitor the results of your social media activities. Are your social media efforts bringing any value? Your social media metrics help you measure just that.
Different social media metrics help you measure different aspects of your social media efforts. It depends on the stage as well as the goal that you want to achieve. If you want to increase brand awareness, you will focus on the reach for your social media content posts among other things.
Measuring and monitoring the right set of social media metrics is crucial to your social media efforts. You need to watch out for and measure metrics that add value to your business.
To make this easier for you, we have put together a comprehensive list of the most valuable social media metrics you need to monitor.
Here are the top social media metrics that will bring value to your business and which you need to focus on:
– Metrics for measuring brand awareness
Metrics that measure brand awareness are valuable for knowing if your efforts are drawing the attention of your target audience. Different social media platforms have different metrics that depict your brand’s awareness. Broadly, it is the reach and impressions on your posts that determine your brand awareness.
– Impressions- Impressions is the number depicting the total views.
– Reach- Reach is the number of views by every unique user.
It is important to bifurcate these metrics into paid and organic efforts for better clarity. If your organic efforts are generating good reach and impressions, you can consider cutting down on your Ad spends.
For Instagram too, the reach, as well as impressions on your posts, are important metrics that brands need to keep a watch on. Profile views are also important social media KPIs for brand awareness. For Instagram stories, you can look at the number of times your stories were viewed. You can look at the number of accounts your stories were reached by at the bottom of your story itself. The number of impressions is the total number of times a story was viewed.
On Twitter, you can look at your mentions, profile visits and impressions for measuring the social media awareness for your brand.
– Metrics for measuring engagement
One of the most important social media metrics is engagement metrics. These are a measure of the audience’s response to your content strategy. The main engagement metrics across social media platforms are comments, likes, favourites, shares, retweets, reactions etc. The more you receive responses from your audience in the form of the actions mentioned above, the more engaging your content is. As a result, your engagement metrics help give direction to your content strategy. Here are a few metrics that will help you track your engagement rate
– Likes and reactions
– Replies and/or reactions to stories
On Facebook, the prime engagement metrics are comments. Facebook puts emphasis on active interactions among audiences for better newsfeed ranking as well. As such it is important to track the number of comments you are receiving on each of the posts on Facebook. Likes, shares, reactions etc. too are signs that your content was interesting enough to provoke a response from the audience.
For Instagram as well, the number of comments and likes on a given post determine how engaging your content is. Instagram posts that receive more comments and likes can be seen as an inspiration for future content formats. The number of replies and reactions you receive on your stories is the measurement of your engagement rate.
On Twitter, you can measure your engagement in terms of the number of favourites, replies, link clicks and retweets on your content. You can derive the engagement rate for every post by adding the total number of retweets, replies, link clicks and favourites and dividing it by the number of impressions.
– Metrics measuring conversions
Conversion is the point at which a user responds to the desired CTAs. Common metrics for measuring conversions are:
– Click through rates (CTRs)- The number of times people click on a call to action link in your post is the click-through rate
– Cost per clicks (CPCs)- The amount that you pay per single click on your sponsored paid social media posts
The main idea behind adding CTAs is to compel your audience to take the desired actions. Monitoring your Click through rates will help you determine whether your CTAs are effective enough to push your audience to take action. If the numbers are on the lower side, your CTAs or content may not be compelling enough. You may want to make changes to your content strategies so that people take the desired action.
Measuring the cost per click for your paid ads is also important. Since you are investing money on paid content, it is important to monitor the returns on the same. The cost per click metric will help you determine if the ads and paid content you are putting out are compelling enough to drive action from the audience. If the audience is not taking the desired action, you may want to reconsider your strategy and approach content from a different angle. You may want to look at content with more CPCs for inspiration.
You can use Unbox Social to measure your CPCs and CTRs on different social media platforms. Based on insights on these metrics, you can take a decision on what your next step will be.
You should also monitor your conversions on links in ad stories and regular stories. This will help you decide whether your content is compelling enough to push your audience to take action.
– Demographic Metrics
The demographic metrics are one of the most important social media metrics to monitor. It is very important to understand your audience by their demographics and frame a social media strategy accordingly. The various demographic metrics across social media platforms include:
– Age, Gender and Location
– Lifestyle, Consumer Behaviour and Mobile footprint
– Time Points of Maximum Activity
On Facebook, you can categorise your audience by gender, location, age, and language. These metrics help you make strategies for targeting on the platform. Measuring your audience metrics helps you to understand what percentage of women and men are being reached and engaging with your content. It helps you understand which segment (s) of your audience needs more attention.
On Twitter, the main audience metrics include lifestyle, consumer behaviour and mobile footprint. These Twitter audience metrics are further bifurcated into their interests, occupation, household income categories etc. All these social media metrics help you determine audience segments that need more focus.
Instagram gives similar audience demographics that help you know your audience better.
With Unbox Social’s reporting tool you can segment your audience in terms of location, age, gender, interests, and location. Apart from these segmentations, the tool also helps you identify the time when most of your audience is online on the platform.
– Video Metrics
– Average completion rate/ Audience retention rate- This metric is an indicator as to how long your video was able to capture the attention of your audience
– Peak Live Viewers- This is an indicator of the highest number of viewers that you had during live streaming.
The average completion rate for Facebook and Audience retention rate for YouTube are core metrics determining audience metrics. These metrics show the duration for which a particular video had the attention of your audience. If, for instance, the audience retention rate metrics are on the lower side, you may need to consider making changes in your strategy.
It is important for you to monitor your social media metrics in order to measure your social media performance. Make sure you track the crucial metrics regularly so that you can upgrade your strategies promptly. Here are a few blogs to help you with social media marketing.